Does the carbon emission trading pilot policy promote green innovation cooperation? Evidence from a quasi-natural experiment in China

Peng Xiaobao (), Wu Jian (), Chen Yuhui (), Sumran Ali () and Xie Qijun ()
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Peng Xiaobao: University of Science and Technology of China
Wu Jian: Fudan University
Chen Yuhui: University of Science and Technology of China
Sumran Ali: University of Science and Technology of China
Xie Qijun: Tsinghua University

Financial Innovation, 2024, vol. 10, issue 1, 1-24

Abstract: Abstract Green and low carbon transition is a broad and profound economic and social systematic change. Green innovation is a critical way to promote energy saving and emission reduction. Has China continuously promoted a carbon emission trading policy to significantly promote green innovation cooperation? Taking the implementation of the carbon emission trading pilot policy as a “quasi-natural experiment,” this study answers this question by exploring the impact of the policy on green innovation cooperation. Based on data on 274 cities from 2008 to 2020, the multi-time difference-in-differences model is used to evaluate the impact of the policy on green innovation cooperation. The results reveal that the carbon emission trading pilot policy significantly improved inter- and intra-city green innovation cooperation through the upgrading effect of industrial structure and the coverage effect of digital finance compared with the non-pilot cities at the city level. In addition, there are significant differences in the policy effects among cities with different degrees of openness to the outside world and command-and-control environmental regulation.

Keywords: Carbon emission trading; Digital finance coverage effect; Green innovation cooperation; Industrial structure upgrading effect (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1186/s40854-023-00556-5

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